Total revenues of 325.8 million and EBITDA of over 5 million Euros, a significant increase compared to respectively 188.6 million and 0.1 million in the first quarter of 2021.
The Net Financial Position has also improved, reaching 199.7 million Euros, a significant reduction compared to 235.8 million Euros as at 31 March 2021.

Client centrality is increasingly at the forefront, with constant actions in the areas of sustainability and digitalisation.

April has confirmed and strengthened the positivity already seen during the last part of the first quarter, with total revenues amounting to 150 million Euros, an increase also compared to 2019.

The Board of Directors of MARR S.p.A. (Milan: MARR.MI), the leading company in Italy in the sale and distribution to the foodservice of food and non-food products, today approved the interim management report as at 31 March 2022.

Main consolidated results and by segment of activities in the first quarter of 2022
The first quarter of 2022, which began with January still being penalised by the trends in the number of infections, saw a constant and progressive recovery during February and March in out-of-home consumption, also as a result of the improvement in the health conditions. 
In this context, thanks to its closeness to the Client and the continuous enhancement of its range of goods and services, MARR has taken advantage of the commercial opportunities in the out-of-home food consumption Market which, despite the restrictions of the pandemic, confirmed its resilience and reactivity, with growth levels in excess of those of the Market itself.
With an increase in the segment of “hotels, meals and out-of-home consumption” that the Confcommercio Studies Office has estimated in its “Survey 4-2022” document to have been 61% in quantity compared to the same period in 2021 (with a forecast neighbouring a value of 66%, taking into account the inflation rate for the period), the increase in MARR’s total revenues has reached about 73%, also thanks to the contribution of the recent acquisitions.

The first quarter of 2022 closed with 325.8 million Euros in total consolidated revenues, a significant increase compared to 188.6 million Euros in the same period of 2021, which had been more affected by the spread of infections.

In particular, the revenues from sales in the first quarter of 2022 amounted to 321.7 million Euros, compared to 186.2 million in 2021 and 329.3 million in 2019.
The sales to clients in the “Street Market” segment (restaurants and hotels not belonging to Groups) and “National Account” segment (operators in Chains and Groups, and Canteens) amounted to 268.1million Euros and, compared to 134.7 million Euros in 2021, benefitted from the approximately 12 million Euros contributed by the Verrini Group, consolidated as of 1 April 2021. 

The sales to wholesalers (“Wholesale” segment) amounted to 53.6 million Euros (51.5 million in 2021).

The foodservice market is significantly affected by the inflation that has generally been characterising most of the range of goods used and thus marketed by MARR. 
This is in addition to the increase in energy costs (accentuated by the recent international tensions), the effects of which are mainly being felt in terms of the conservation and distribution of products.
MARR is very closely focused on both fronts, through the best possible management of the available supplies and continuous scouting in order to ensure that Clients have the Products of the best possible quality at always competitive prices and through operating methods capable of reducing any potential waste of energy resources. The current difficulties are thus enabling the fruition of the benefits deriving from activities already started and more recently enhanced.
In this context, the operating profitability in the first quarter of 2022 was obviously penalised, but in any event recorded an EBITDA of 5.1 million Euros (108 thousand Euros in 2021). The resulting EBIT amounted to -2.5 million (-7.0 million in 2021).
The net result for the period amounted to -2.9 million Euros, compared to -6.3 million for last year.

As at 31 March 2022, the net trade working capital amounted to 216.4 million Euros, a decrease compared to 232.4 million at the end of the first quarter of 2021, despite an increase in inventory as a result of the bringing forward of procurement policies implemented in view of the summer season and in the presence of the aforementioned inflation. The increase in inventory compared to 31 March 2021 was also affected by the consolidation of the companies of the Verrini Group as of 1 April 2021.

The net financial debt amounted to 199.7 million Euros, a significant reduction compared to 235.8 million as at 31 March 2021, while the consolidated net equity amounted to 346.6 million Euros (331.8 million as at 31 March 2021).